The Indian online Education landscape was disrupted by Byju’s and Vedantu a few years before.
The time seems ripe now to cover up the losses and even start making profits. As has always been the case with many startups, attracting and acquiring new customers to their new learning platform has a rider attached to it. It has to compensate for its early user acquisition by pushing in new funds to break even or even plan for a possible exit strategy.
With this in mind, Bengaluru based Vedantu has raised $24 million in a Series C funding round led by GVV capital and other investors as well. It has raised in total $66 million through multiple funding rounds.
Founded in 2014 by Vamsi Krishna, Pulkit Jain, and Anand Prakash, the company has launched its flagship product named WAVE, a real-time online learning tool that helps students and teachers alike with more than 70 parameters, highlighting areas which students excel at and which they struggle. WAVE also enables in-demand teachers to be able to offer personalized teaching sessions to many students at once.
The company claims to have more than 25 million monthly users accessing their free content and between 1.5 lakh users accessing its paid content. It also claims to have around 500 teachers onboard providing LIVE classes to about 6million students in over 40 countries every month.
Vedantu intends to make it’s the brand more prominent and create a new learning section for students studying between kindergarten till STD 5. This segment is an untapped one even for its rivals. The company wants to enrich the learning experience of students in Indian metros and small towns by making learning more fun and providing highly engaging courses.
As confirmed by co-founder and CEO of Vedantu, Vamsi Krishna, they are ready to enter new customer categories between 4-10 years, this confidence coming from the fact that Vedantu receives 4.5x student enrollments growth per year. With GVV Capital’s managing partner Hans Tung joining Vedantu’s board, it will add more thought in their strategic decisions.
Earlier too in August 2019, Vedantu had raised around $42 million by Tiger Global Management and WestBridge Capital alongside Accel, Omidyar India, and TAL Education, Prince Maximilian of Leichtenstein. It also raised another $1.3 million in a Series C debt plus preference funding from Trifecta Capital in August 2019.